Ralph Lauren Corporation $RL Stake Reduced by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Ralph Lauren stake by 79.2% in the third quarter, selling 13,637 shares and retaining 3,572 shares valued at approximately $1.27 million.
• Other institutional investors increased or initiated positions, while institutions collectively own 67.91% of Ralph Lauren’s stock.
• Analysts remain broadly positive, with 15 Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $449. Ralph Lauren also exceeded quarterly earnings and revenue estimates and maintains a $4.00 annualized dividend.

State of Alaska Department of Revenue reduced its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 79.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,572 shares of the textile maker's stock after selling 13,637 shares during the quarter. State of Alaska Department of Revenue's holdings in Ralph Lauren were worth $1,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Ralph Lauren in the 2nd quarter worth $3,225,000. Wellington Management Group LLP raised its position in shares of Ralph Lauren by 55.5% during the 2nd quarter. Wellington Management Group LLP now owns 476,472 shares of the textile maker's stock valued at $191,261,000 after buying an additional 170,091 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Ralph Lauren during the 2nd quarter valued at $11,573,000. Meeder Asset Management Inc. lifted its holdings in shares of Ralph Lauren by 73.1% during the 1st quarter. Meeder Asset Management Inc. now owns 35,025 shares of the textile maker's stock worth $12,048,000 after acquiring an additional 14,788 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Ralph Lauren by 6.5% during the 1st quarter. SG Americas Securities LLC now owns 155,399 shares of the textile maker's stock worth $53,456,000 after acquiring an additional 9,435 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Analysts Set New Price Targets

RL has been the subject of several research reports. BTIG Research upped their target price on shares of Ralph Lauren from $450.00 to $460.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Needham & Company LLC raised their price target on Ralph Lauren from $405.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen lowered Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Weiss Ratings cut Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on Ralph Lauren from $434.00 to $452.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Ralph Lauren currently has an average rating of "Moderate Buy" and an average price target of $449.00.

Ralph Lauren Trading Down 0.9%

Shares of RL opened at $378.26 on Wednesday. Ralph Lauren Corporation has a fifty-two week low of $306.55 and a fifty-two week high of $421.60. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.43 and a beta of 1.34. The firm has a 50 day moving average price of $359.60 and a 200-day moving average price of $371.16. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.04.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The textile maker reported $4.59 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.27. Ralph Lauren had a net margin of 11.76% and a return on equity of 39.10%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $3.77 earnings per share. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities research analysts forecast that Ralph Lauren Corporation will post 18.79 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a $1.00 dividend. The ex-dividend date was Friday, September 25th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Ralph Lauren's payout ratio is currently 25.20%.

About Ralph Lauren

Ralph Lauren Corporation NYSE: RL is a global luxury lifestyle company founded by Ralph Lauren in 1967. The company designs, markets and distributes apparel, accessories, home furnishings, fragrances and related products under a portfolio of brands that includes Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label and Double RL.

Ralph Lauren serves men, women and children through a combination of directly operated stores, digital commerce, wholesale distribution and licensing arrangements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.